When it comes to patient experience, there’s one thing that always comes out on top in surveys. Almost 90 percent of respondents say having a clear billing process is most important to them. It makes sense, then, that failing to make sufficient investment in healthcare billing solutions could cause problems for practices. In today’s competitive medical marketplace, finding ways to keep patients happy is key. Patients who are unhappy with their experience will simply look elsewhere for a new provider.
At one time, patients weren’t too worried about shopping around for a healthcare provider. Their medical insurance covered most of their costs. If the insurer was paying, it didn’t matter whether they were getting good value for money. Those days do not exist anymore. Now, patients have to cover much more of their treatment costs. As a result, they have started to treat healthcare provision in the same way as any other shopping experience. Consumers won’t buy from a retailer that offers a poor quality experience. They won’t use a healthcare organization that isn’t up to standard either. If an e-commerce site offers a poor payment experience, customers won’t use it again. The same goes for their healthcare billing experience. If they can’t make payments quickly, conveniently, and easily, they’ll look for a provider who can meet that demand.
Then, it’s clear. Healthcare providers of all kinds must now pay closer attention to their patients’ financial experience. Failure to do so will cause a large number of revenue issues for medical organizations. This is where cutting-edge healthcare billing solutions come into play.
Easier Access to Services
A healthcare organization’s revenue cycle team is usually the first and the last team that patients encounter. Whenever the team members attend to patients, they need the patients’ first impressions of the organization to be positive. This is where hospitals and practices must endeavor to make the experience smooth and simple.
Making payments isn’t something that patients enjoy. In fact, it’s something that causes considerable anxiety to many people in the United States today. Many families worry that an unexpected medical emergency will result in bankruptcy. This deters many people who are unwell from seeking medical advice until their disease is advanced. They may end up having to pay a lot more for treatment than they would have for preventative care. Patients should not feel as though they have to avoid the doctor to guard against financial problems. While it’s impossible to escape the increasing costs of medical care, healthcare organizations can make it easier to pay.
By ensuring easy access to payment services, hospitals and practices can smooth the path to treatment at a difficult time.
Smoothing the Payment Process
At one time, payments were only possible via paper check or even cash. Luckily, this is no longer the case. This is good news for patients and providers alike. For providers, the benefits of an online payment portal far outweigh the expense of investing in one. The saving in terms of a reduced administrative burden on staff is clear. There are also significant savings in terms of processing costs. When patients can make payments easily, they are more likely to pay on time and in full. This keeps cash flowing through the practice. Meanwhile, for patients, there are benefits, too. Online debt negotiation tools, for example, make it easier to budget for medical payments. Being able to use preferred payment methods simplifies a stressful process at a difficult time.
BillingTree’s cutting-edge payment portals and healthcare billing solutions are leading the way in the industry. Our solutions streamline the revenue collections process for healthcare organizations and simplify payments for patients. As a result, the patient experience is a positive one. You guarantee their satisfaction and maintain positive relationships.